Filed Under: Mark's Neologisms , Ridiculous Tagged With: automotive , cars , culture , humor , neologisms , quotes , satire , urban dictionary. The inability to read a map, or follow simple directions, generally caused by over-dependence on GPS monitors.
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Besides having to keep one step ahead of its many competitors, there is another reason why Groupon needs to grow into a broader local-commerce operation: the daily-deals phenomenon, despite its remarkable recent growth, may have its limits. Last summer Utpal Dholakia of Rice University interviewed businesses that had done Groupon promotions. The reasons for such numbers are various. Businesses grumble that the deals attract mainly bargain-hunters who do not spend more than the coupon's face value and do not become repeat customers.
Although these problems may be fixed by designing the promotions better, there are some longer-term worries. Studies have repeatedly shown that price discounts erode brand value, says Mr Dholakia.
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They may be good for giving businesses some exposure but the benefit of this is likely to wear off after a few such promotions. Mr Solomon will have none of this, calling Mr Dholakia's survey unrepresentative and insisting that Groupon has a queue of new companies keen to sign up. Even so, there is a risk that local businesses, having given Groupon a try, will abandon it. How the behaviour of consumers will evolve is harder to predict.
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So far the hunger for online coupons seems insatiable. Groupon's best customers are young, female city-dwellers, who tend to be avid followers of fashion; but fashions change. Does this mean that Groupon will go the way of Napster, Friendster or MySpace, all of which had meteoric rises before crashing and burning? This is clearly a risk.
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But with its powerful momentum, strong management and hefty financial backing, the firm certainly has a chance of becoming the dominant platform for local service businesses to pull in the punters, much as Amazon has come to dominate online shopping for all sorts of physical goods. If so, though, daily deals will probably be just one of Groupon's offerings. Join them. Subscribe to The Economist today.
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Buy As Gift. Overview Urbandictionary. Within urbandictionary. Product Details About the Author. Since then, Urban Dictionary has been cited in court, in graduation speeches, and by countless media outlets, including CNN and Time magazine.
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This book may have occasional imperfections such as missing or blurred pages, poor pictures, Dictionary Of The English Language. This is a reproduction of a book published before